Hometown Funding Inc- dba Cnb Mortgage Lending & HMDA Data, 2003
In 2003, Hometown Funding Inc- dba Cnb of Pittsford, NY reported 2,405 mortgage applications totaling $281.6 million. The average application was for $117,106, and applicants reported an average income of $71,217. 88% of its applications resulted in an originated loan and 4% were denied. Its largest markets were Rochester, NY (2,227), Syracuse, NY (7) and Buffalo-Niagara Falls, NY (4) (applications in parentheses).
| Mortgage Company & Address | Hometown Funding Inc- dba Cnb 63 Monroe Ave Pittsford, NY 14534 |
| Federal Regulator | * available with data download |
| Years | 2003 |
| Total Number of Mortgage Applications | 2,405 |
| Total Mortgage Loan Application Amount | $281,641,000 |
| Average Mortgage Loan Application Amount | $117,106 |
| Highest Mortgage Loan Application Amount | $550,000 |
| Average Applicant Income | $71,217 |
| Highest Applicant Income | $558,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Hometown Funding Inc- dba Cnb filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
Mortgage Loan Application Detail Totals for Hometown Funding Inc- dba Cnb in 2003
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing (home purchase or home improvement, one-to-four family) | 1,766 | $210,773,000 | $119,000 | $550,000 | $76,000 | $525,000 |
| Home Purchase (one-to-four family) | 639 | $70,868,000 | $110,000 | $550,000 | $58,000 | $558,000 |
| Multifamily dwelling (home purchase, home improvement, and refinancings) | 0 | $0 | $0 | $0 | $0 | $0 |
| Home Improvement (one-to-four family) | 0 | $0 | $0 | $0 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 2,336 | $273,120,000 | $116,000 | $550,000 | $64,000 | $558,000 |
| Hispanic | 23 | $2,358,000 | $102,000 | $270,000 | $57,000 | $124,000 |
| Asian or Pacific Islander | 18 | $2,303,000 | $127,000 | $323,000 | $84,000 | $398,000 |
| Black | 15 | $1,977,000 | $131,000 | $489,000 | $63,000 | $184,000 |
| Information not provided by applicant in mail or telephone application | 6 | $944,000 | $157,000 | $322,000 | $55,000 | $86,000 |
| Other | 5 | $768,000 | $153,000 | $225,000 | $160,000 | $495,000 |
| American Indian or Alaskan Native | 2 | $171,000 | $85,000 | $91,000 | $49,000 | $62,000 |
| Not applicable | 0 | $0 | $0 | $0 | $0 | $0 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 2,233 | $265,782,000 | $119,000 | $550,000 | $74,000 | $558,000 |
| FHA-insured (Federal Housing Administration) | 152 | $13,765,000 | $90,000 | $178,000 | $43,000 | $119,000 |
| VA-guaranteed (Veterans Administration) | 20 | $2,094,000 | $104,000 | $188,000 | $62,000 | $130,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 2,115 | $248,406,000 | $117,000 | $550,000 | $76,000 | $558,000 |
| Application Withdrawn By Applicant | 118 | $13,622,000 | $115,000 | $323,000 | $60,000 | $441,000 |
| Application Denied By Financial Institution | 91 | $9,880,000 | $108,000 | $550,000 | $54,000 | $218,000 |
| Application Approved But Not Accepted | 64 | $8,147,000 | $127,000 | $252,000 | $64,000 | $359,000 |
| File Closed For Incompleteness | 17 | $1,586,000 | $93,000 | $200,000 | $47,000 | $147,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Credit History | 36 | $4,021,000 | $111,000 | $550,000 | $61,000 | $190,000 |
| Collateral | 17 | $1,592,000 | $93,000 | $200,000 | $53,000 | $139,000 |
| Debt-To-Income Ratio | 13 | $1,341,000 | $103,000 | $406,000 | $36,000 | $218,000 |
| Other | 11 | $1,123,000 | $102,000 | $170,000 | $64,000 | $107,000 |
| Employment History | 8 | $1,131,000 | $141,000 | $263,000 | $66,000 | $209,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $588,000 | $117,000 | $160,000 | $35,000 | $62,000 |
| Credit Application Incomplete | 1 | $84,000 | $84,000 | $84,000 | $20,000 | $20,000 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Hometown Funding Inc- dba Cnb's 2003 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Hometown Funding Inc- dba Cnb's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
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